Live Oak Bancshares, Inc 8-K, filed Aug 25, 2023
Live Oak Bancshares, Inc. (LOB)
8-K
2023-08-25
For: 2023-08-25
View Original
Added on
April 08, 2026
About this 8-K
Live Oak Bancshares, Inc filed this 8-K on August 25, 2023.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 25, 2023
(Exact name of registrant as specified in its charter) | ||
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| (Address of principal executive offices) | (Zip Code) | |||||||||||||
Registrant’s Telephone Number, Including Area Code: (910 ) 790-5867
| Not Applicable | ||
| (Former name or former address, if changed since last report) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 8.01 Other Events.
On August 25, 2023, Live Oak Bancshares, Inc. (the “Company”) issued a press release regarding the appointment of William C. Losch, III as President of Live Oak Banking Company, a wholly owned subsidiary of the Company. A copy of the press release is filed as Exhibit 99.1 hereto and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number | Description | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| LIVE OAK BANCSHARES, INC. | ||||||||
| Date: August 25, 2023 | By: | /s/ Gregory W. Seward | ||||||
| Gregory W. Seward General Counsel | ||||||||
2
Exhibit 99.1
Live Oak Bank Names William C. (BJ) Losch, III as President
WILMINGTON, N.C., August 25, 2023 (GLOBE NEWSWIRE) -- Live Oak Bancshares (“Live Oak” or the “company”) announced today its Board of Directors has appointed William C. (BJ) Losch, III as President of Live Oak Bank effective today. Losch will continue to serve in his role as Chief Financial Officer of Live Oak Bancshares.
Losch brings a wealth of experience and knowledge as Live Oak continues to expand its lending franchise, while launching new products and solutions to support its growing customer base. As CFO and Chief Banking Officer, Losch’s impact on company performance has exceeded expectations and he is well suited to take on this new leadership role for the company.
“The Board and I are beyond excited to see BJ take on this role and lead Live Oak into the future. He has been instrumental in making numerous positive changes to how we operate the business and manage our financial performance, while embracing our strong commitment to employees and customers,” said Live Oak Chairman and CEO James S. (Chip) Mahan III. “Huntley Garriott, who has been serving as President since 2018, worked tirelessly through many challenges to place Live Oak on incredible footing, and we are very grateful for his contributions to our company. We wish him well in his next endeavor.”
Losch has been serving as Chief Financial Officer for the past two years and will continue to do so. As Chief Banking Officer he has been leading our customer facing sales, support and operational groups across all lending and deposits functions at the bank.
“I love the Live Oak mission. I believe our opportunity is tremendous and our culture is extraordinary. I am excited to take on this new challenge of leading a strong team and helping to guide and shape our unique model as we serve small businesses across the country,” said Losch.
Prior to joining Live Oak, BJ spent 12 years at First Horizon Corporation as senior executive vice president and CFO leading its financial activities, which included treasury, accounting, controls, tax, financial planning, strategic planning, investor relations and corporate development/M&A.
Prior to his role at First Horizon, Losch held progressively senior roles at First Union and Wachovia and served as senior vice president and chief financial officer for the general bank at Wachovia, the largest of the corporation’s four major business lines.
Losch holds a Bachelor of Science degree in business administration from the University of Richmond and a Master of Business Administration from Virginia Commonwealth University.
About Live Oak Bancshares
Live Oak Bancshares, Inc. (NYSE: LOB) is a financial holding company and parent company of Live Oak Bank. Live Oak Bancshares and its subsidiaries partner with businesses that share a groundbreaking focus on service and technology to redefine banking. To learn more, visit www.liveoakbank.com.
Contacts:
Claire Parker | SVP Corporate Communications
910.597.1592